Fenner seals North Sea oil presence

ENGINEER Fenner waded deeper into the North Sea oil and gas market with the purchase of a seals business.

The Hessle, East Yorkshire-based conveyor belting giant bought Norwegian Seals for an undisclosed sum, to bolster its CDI seals business.

The privately-owned Norwegian firm has a subsidiary in Leeds, Beddis Kenley Engineering, which has about 28 staff.

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Fenner chief executive Nick Hobson said: “This transaction is an important step in CDI Seals’ growth strategy. The acquisition of Norwegian Seals and its UK subsidiary expands Fenner’s geographic footprint into the North Sea. Norwegian Seals also has considerable experience in the most demanding sub-sea sealing technologies, which have potential applications in other geographic markets where CDI already operates.”

Norwegian Seals makes and sells ‘performance-critical’ seals for the oil and gas market, particularly focused on sub-sea, well head and down hole applications. It had assets of 47.4m Norwegian Krone (£5.1m) at the end of 2011.